Welcome to our dedicated page for PureTech Health plc American Depositary Shares news (Ticker: PRTC), a resource for investors and traders seeking the latest updates and insights on PureTech Health plc American Depositary Shares stock.
PureTech Health plc (symbol: PRTC) is a cutting-edge biotechnology company committed to developing and commercializing innovative medicines that address serious diseases. Headquartered in Boston, Massachusetts, PureTech Health specializes in modulating the adaptive human system to create transformative treatments.
The company's core business is focused on discovering and advancing highly differentiated medicines aimed at a wide range of devastating conditions. These include inflammatory, fibrotic, and immunological diseases, as well as intractable cancers, lymphatic and gastrointestinal disorders, and neurological and neuropsychological issues. PureTech Health operates through three key segments: Wholly-Owned Programs, Controlled Founded Entities, and Parent Companies & Others.
Recent Achievements
PureTech Health boasts a robust pipeline of advanced programs that are at the post-human proof of concept stage, targeting some of the most pressing healthcare needs globally. The company's innovative approach has resulted in numerous partnerships and collaborations with leading research institutions and other biopharma entities.
Current Projects
Currently, PureTech Health is involved in several groundbreaking projects aimed at developing treatments that can significantly improve patient outcomes. These projects leverage the company's expertise in modulating the adaptive human system to create therapies that are not only effective but also highly differentiated from existing treatments.
Financial Condition
PureTech Health's financial condition remains strong, supported by a diverse portfolio of wholly-owned programs and controlled founded entities. The company's strategic investments and collaborations have positioned it well to continue driving innovation in the biopharma space.
Partnerships and Collaborations
Collaboration is at the heart of PureTech Health's strategy. The company has established numerous partnerships with top-tier research institutions and other biopharma companies to accelerate the development and commercialization of its innovative therapies.
Products
PureTech Health's product portfolio includes a range of medicines designed to address some of the most challenging diseases. These products are developed with a focus on significantly improving the quality of life for patients.
Follica Inc. has appointed two experienced biotech executives, Tom Wiggans and Michael Davin, to its Board of Directors. Wiggans, former CEO of Dermira, will serve as Executive Chairman, bringing over 30 years of experience and leadership in biopharmaceuticals, including guiding Dermira through a successful acquisition for $1.1 billion. Davin, who has significant experience in the medical device industry, including leading Cynosure through an IPO, joins as an independent member. The company is gearing up for a Phase 3 study in male androgenetic alopecia, identifying substantial market potential.
PureTech Health (LSE: PRTC, NASDAQ: PRTC) celebrates the addition of two seasoned biotech executives to the Board of Directors of its Founded Entity, Follica. Tom Wiggans, former CEO of Dermira, becomes Executive Chairman, bringing over 30 years of biopharmaceutical experience, including successful Phase 3 trials and a $1.1 billion acquisition. Michael Davin, ex-CEO of Cynosure, joins as an independent board member, enhancing Follica's expertise in medical devices. This leadership change coincides with Follica's Phase 3 study launch for male androgenetic alopecia, potentially impacting 90 million U.S. individuals.
Vedanta Biosciences has secured a $25 million investment from Pfizer under its Breakthrough Growth Initiative. This funding will support a Phase 2 study of VE202 for treating inflammatory bowel disease (IBD), expected to start in 2021. Preliminary data from a Phase 1 study indicates that VE202 is safe and promotes durable colonization. IBD affects 1.6 million Americans, highlighting the urgent need for new treatments. Pfizer's Dr. Michael Vincent will join Vedanta's Scientific Advisory Board. Importantly, Vedanta retains control of its programs while granting Pfizer a right of first negotiation on VE202.
PureTech Health (LSE: PRTC, NASDAQ: PRTC) announces a $25 million investment in its Founded Entity, Vedanta Biosciences, from Pfizer (NYSE: PFE). This investment is part of the Pfizer Breakthrough Growth Initiative, aimed to support the Phase 2 study of VE202 in inflammatory bowel disease (IBD), expected to start in 2021. Previous Phase 1 data indicated that VE202 was safe and well-tolerated, showing promising results. Michael Vincent, Pfizer's Chief Scientific Officer, will join Vedanta's Scientific Advisory Board, while Vedanta retains control over its programs.
PureTech Health (LSE: PRTC, NASDAQ: PRTC) announced the appointment of George Farmer, Ph.D. as its new Chief Financial Officer. Dr. Farmer brings over 15 years of experience as a senior biotechnology equity analyst at BMO Capital Markets, where he provided extensive sector research. This leadership change comes as PureTech aims to capitalize on recent momentum, having initiated three clinical trials and expanded its presence in the NASDAQ Global Market.
PureTech Health plc (LSE: PRTC, Nasdaq: PRTC) announced participation in the 38th Annual J.P. Morgan Healthcare Conference and other virtual events. Key presentations will include Daphne Zohar, CEO, on January 14, 2021, at 10:50am EST, and Bharatt Chowrira, J.D., Ph.D., alongside Eric Elenko, Ph.D., on January 5, 2021, at 1:00pm EST. PureTech focuses on developing innovative therapies for serious diseases, with a pipeline of 24 product candidates, two already cleared by the FDA. For more, visit puretechhealth.com.
PureTech Health (PRTC) has launched a Phase 1 clinical trial for LYT-200, targeting metastatic solid tumors resistant to current treatments. This monoclonal antibody aims to inhibit galectin-9, a protein that promotes tumor immunosuppression. The trial's primary goal is to assess safety and efficacy in escalating doses, with topline results expected in Q4 2021. Success in this trial could pave the way for a subsequent Phase 2 study exploring LYT-200’s potential in combination therapies.
PureTech Health (LSE: PRTC, Nasdaq: PRTC) announced the initiation of a Phase 2a proof-of-concept study for LYT-100 in patients with breast cancer-related upper limb secondary lymphedema. This chronic condition currently lacks FDA-approved drug therapies. LYT-100 aims to address inflammation and fibrosis, with a favorable safety profile from prior studies. The study plans to enroll up to 50 patients, focusing on safety and tolerability, with results expected in Q4 2021. This initiative highlights the urgent need for effective treatments for lymphedema, potentially positioning PureTech as a leader in this overlooked area.
Follica announced encouraging results from a pilot study on treating female pattern hair loss (FPHL) using its proprietary Hair Follicle Neogenesis (HFN) device. Enrolling 11 women, the study demonstrated significant hair growth over four months, with all participants reporting improvements. The device stimulates stem cells to develop new hair follicles, complemented by a topical drug. Despite the small sample size, the outcomes highlight a notable treatment gap for women with few options available. Follica plans to advance to Phase 3 development in 2021, furthering its commitment to innovative hair loss solutions.
Follica, a biotechnology firm focused on treating hair loss, announced positive results from a pilot study published in the International Journal of Women’s Dermatology. The study, led by Dr. Maryanne M. Senna, involved 11 women with female pattern hair loss (FPHL), showing significant hair growth after six treatments using the proprietary Hair Follicle Neogenesis (HFN) device. All participants reported improvement on the physician-assessed Sinclair scale. Follica aims to advance to Phase 3 trials in 2021, following successful studies in treating male androgenetic alopecia.
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